Tractor Supply CompanyNASDAQ
Wed, Nov. 23, 3:39 PM
- Deere (DE +11.3%) powers to all-time highs following its easy FQ4 earnings and revenue beats, as factors ranging from machinery pricing to lower overheads spending helped it report a much smaller-than-expected decline in quarterly earnings, CFO Raj Kalathur said during today's earnings conference call.
- DE forecasts FY 2017 sales of its farm and construction equipment will fall by 1% Y/Y, but analysts were expecting sales to drop by ~3% after sliding 9.3% to $23.4B in 2016, and predicts next year's profit will slip by just 1% following a 21% decline in 2016 to $1.5B.
- DE also said prices for new and used equipment firmed in the quarter, taking pressure off dealers to offer discounts that squeeze margins.
- "It's not that the cycle is turning, it is that they are managing it better than before," Jefferies analyst Stephen Volkmann says.
- Caterpillar (CAT +2.7%), which has some market overlap with DE, surges to its best levels since December 2014, while AGCO (AGCO +3.4%), Lindsay, CNH Industrial (CNHI +4.7%) and Tractor Supply (TSCO +0.8%) also are higher.
Tue, Nov. 1, 8:10 AM
- Tractor Supply (NASDAQ:TSCO) declares $0.24/share quarterly dividend, in line with previous.
- Forward yield 1.53%
- Payable Nov. 29; for shareholders of record Nov. 14; ex-div Nov. 9.
- The Board also authorized a $1B increase to its existing share repurchase program, bringing the total amount authorized to date under the program to $3B.
Wed, Oct. 19, 4:02 PM
Tue, Oct. 18, 5:35 PM
Thu, Sep. 8, 12:50 PM
Thu, Sep. 8, 9:23 AM
Thu, Sep. 8, 8:36 AM
- Shares of Tractor Supply (NASDAQ:TSCO) have plunged 14% premarket following two downgrades after the company cut its 2016 outlook and issued disappointing Q3 guidance.
- Wedbush lowered the stock to neutral from outperform and cut the price target to $72, saying the firm is suffering from macro trends and "limited sales drivers."
- Credit Suisse also downgraded the stock to neutral from outperform based on the guidance and expected near-term pressure.
Wed, Sep. 7, 5:59 PM
- Tractor Supply (NASDAQ:TSCO) -9.4% AH after guiding Q3 below consensus and lowering FY 2016 guidance, citing economic headwinds impacting consumer spending throughout many of its markets, particularly the energy producing and agricultural markets.
- TSCO now expects Q3 EPS of $0.65-$0.67 vs. $0.72 analyst consensus, on net sales forecast to increase 4.2%-5% to $1.54B-$1.55B vs. $1.61B consensus and $1.48B in the year-ago quarter; comparable store sales are seen flat to a 1% decline vs. a 2.9% increase in last year's Q3.
- TSCO also cuts FY 2016 guidance, expecting EPS of $3.22-$3.26 vs. $3.38 analyst consensus and prior guidance of $3.35-$3.40, while revenues are forecast at $6.7B-$6.75B vs. $6.84B consensus and prior outlook of $6.8B-$6.9B.
Wed, Sep. 7, 5:36 PM
Tue, Aug. 2, 8:20 AM
Wed, Jul. 20, 4:02 PM
Tue, Jul. 19, 5:35 PM
Thu, Jun. 30, 8:35 AM
- The pullback in the stock following last night's cut in guidance is a buying opportunity, says Piper Jaffray's Peter Keith, maintaining his Overweight rating, though cutting the price target to $103 from $105 (current is $91.98).
- 1) Q2 weakness appears to be mostly weather-induced; 2) Sales trends have rebounded since Memorial Day; 3) A just-rolled out inventory system should start paying dividends; 4) The stock appears set to open at a healthy discount to its historic 25x P/E multiple.
- "We can see nothing with Q2 that represents a structural change to the story, and all of the favorable long-term drivers (limited e-com threat, favorable demographics, fragmented competition, etc.) remain intact."
- TSCO -3.35% premarket.
Wed, Jun. 29, 5:38 PM
Wed, Jun. 29, 4:51 PM
- Tractor Supply Co. (NASDAQ:TSCO) has resumed trading and is down 6.8%, after it lowered guidance at today's market close.
- The company cut its forecast for full-year comparable-store sales growth to 2.5%-3.5% following a challenging Q2. It lowered expectations for overall net sales and net income as well.
- Including today's gain during the regular session, TSCO is up 11.3% YTD.
Wed, Jun. 29, 4:10 PM
- Tractor Supply Co. (TSCO +1.1%) has lowered guidance amid softness in comparable store sales after a weaker than expected spring.
- With Q2 net sales coming in at $1.85B, the company sees fiscal 2016 net sales of $6.8B-$6.9B, down from a previous $6.9B-$7B (and vs. consensus for $6.95B).
- It also expects comparable store sales growth for the year of 2.5-3.5% (down from previous 3.5-5%), net income of $451M-$456M (down from $455M-$467M) and EPS of $3.35-$3.40, down from $3.40-$3.48 (and vs. consensus for $3.50).
- "As our preliminary results show, we had a challenging second quarter," said CEO Greg Sandfort. "While our traffic trends remained positive and the sale of core pet and animal offerings remained strong, we did experience weakness in many of our seasonal and big ticket categories."
- Shares were halted at the close for the news; they'll resume trading at 4:30 p.m. ET.